The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 13th April 2016

Top Stories

Global economy risks slowing to stalling speed: IMF
There is a growing danger that global economic growth will continuing slowing to “stalling speed”, the International Monetary Fund warned on Tuesday in its latest World Economic Outlook (WEO), citing an array of economic and geo-political grounds for increased concern.  “Global growth continues, but at an increasingly disappointing pace that leaves the world economy more exposed to negative risks,” said the IMF in the latest issue of its quarterly flagship report. Growth, it said, “has been too slow for too long”.

More receive grants for HDB flats
When former Jurong resident Nur Liza Roslan started searching for a new home last year, she wanted a place near her parents’ flat.  The 29-year-old mother of three often travelled to Bukit Batok to leave her children with her parents while she and her husband went to work.  As luck would have it, the retail assistant found a four-room resale flat for sale – in the same block and on the same floor as her parents’ home.

Singapore Economy

Singapore needs to stay ahead while pursuing Smart Nation vision: Vivian Balakrishnan
Competitive advantage no longer lies with the ability to hoard data, but how it is analysed and used, said Minister-in-Charge of the Smart Nation Programme Office Dr Vivian Balakrishnan on Tuesday (Apr 12).  Speaking at the announcement ceremony of a new initiative to equip more people with skills in big data and analytics, he said Singapore needs to be ahead of the curve as it pursues its Smart Nation vision. The event was held at Shangri-La Hotel Singapore.  “We believe that this explosion of data is going to put many white collar, middle-class jobs at risk,” said Dr Balakrishnan. “The pace of change is so quick now, if our people don’t have the skills and we don’t have the infrastructure, we’re out of the game.”

Singapore Real Estate

Prices of private resale flats up 0.3% in March
Resale prices of non-landed private homes inched up 0.3 per cent last month, compared with February, SRX Property estimates.  This was buoyed by the uptick of 0.1 per cent and 1.3 per cent in the Rest of Central Region (RCR) and Outside Central Region (OCR) respectively.  Resale prices in the Core Central Region (CCR) however slipped 1.7 per cent last month. This decline coincided with the launch of CapitaLand’s Cairnhill Nine project in Orchard, which property consultants say could have drawn interest away from the resale market in the CCR region.

Sharp rise in resale private home sales
Sales of resale non-landed private homes hit an eight-month high last month, owing to a surge in transactions after Chinese New Year resulted in a traditionally quiet February.  An estimated 577 resale units were sold in March, up 47.6 per cent from 391 in February, and the highest since 586 units changed hands in July last year, according to a flash report by SRX Property yesterday.  Last month’s sales volume was also a hefty 19 per cent higher than the 485 units resold in the corresponding period a year earlier.  Despite the pick-up in buying activity, analysts told The Straits Times it is too early to declare that the private resale home market has turned a corner.

Tengah’s attraction ‘lies in rejuvenation plans, low prices’
The main draw of Tengah new town is that its announcement comes amid rejuvenation plans for the west of Singapore, property experts have told The Straits Times.  That, along with the low prices expected for flats there, should offset any inconveniences from the nearby military airbase.  But they also noted that Tengah’s relatively remote location in the west could result in lower interest, especially compared with more central estates such as Bidadari.  Plans for Tengah new town were mooted as early as 1991 in a concept plan for Singapore’s future.

Houzz makes play for S’pore’s S$10b home-design market
Houzz Inc, the Sequoia Capital-backed American start-up that connects homeowners with designers and contractors, is bringing its service to Singapore to try to capture a slice of the S$10 billion local remodelling market.  It has started a dedicated website and mobile app for the affluent city-state, the third country it has entered in the Asia-Pacific, alongside Australia and Japan. About 150,000 people on the South-east Asian island of 5.7 million already view its photo-rich site every month, according to Houzz co-founder and CEO Adi Tatarko.  Houzz hopes to provide a discussion forum and online bazaar for Singaporeans looking to improve their homes in one of the world’s most expensive property markets, she said.

Global Economy & Global Real Estate

Luxury-rental plan abandoned at Manhattan’s One57 condo tower

Luxe London home mortgages highest in 10 years

Goldman mortgage settlement is much less than meets the eye

Design Features That Sell Your Home Faster, for More Money

IMF cuts global growth forecast again

Global economy risks slowing to stalling speed: IMF

Luxury-rental plan abandoned at Manhattan’s One57 condo tower

Additional Articles of Interest – Local & Overseas Real Estate

Local & Overseas Real Estate – Full Article

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